Memory chip concept stocks opened sharply higher, with Jiangbolong rising over 10%.
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Goldman Sachs raised the target prices of several chip and memory concept stocks.
According to BlockBeats, on July 6th, Goldman Sachs raised its target prices for several stocks in the semiconductor and memory sectors: AMD's target price was raised from $450 to $640, with a "buy" rating reiterated; Qualcomm's target price was raised from $145 to $180; Western Digital's target price was significantly raised from $400 to $650; and SanDisk's target price was raised from $1200 to $2200.
A-shares opened lower: All three major indices opened lower, with the Shanghai Composite Index down 0.54%, led by semiconductor and chip stocks.
Mars Finance News, July 7th: At the opening of the A-share market, the Shanghai Composite Index fell 0.54% to 4019.49 points, the Shenzhen Component Index fell 0.46%, and the ChiNext Index fell 0.44%. Semiconductor and chip stocks led the decline, with memory and advanced packaging sectors also experiencing significant drops. Building materials and precious metals sectors were weak; the construction machinery sector performed strongly. (Science and Technology Treasure Broadcast)
US stocks opened higher across the board, with Western Digital rising more than 5%.
According to Mars Finance, on July 6th, US stocks opened with the Dow Jones Industrial Average up 0.11%, the S&P 500 up 0.32%, and the Nasdaq Composite up 0.78%. Chip stocks collectively rose, with SanDisk (SNDK.O) up 4% and Western Digital (WDC.O) up over 5%. Broadcom (AVGO.O) rose 3.5% after extending its partnership agreement with Apple until 2031.
US chip and memory stocks rebounded in pre-market trading.
Mars Finance reports that US-listed chip and memory stocks rebounded in pre-market trading. SanDisk, Western Digital, and Seagate Technology rose over 5%, while Micron Technology gained over 3%. (Cailian Press)
Hong Kong stocks opened higher, with the Hang Seng Index up 0.19%, and the artificial intelligence sector performing strongly.
According to ChainCatcher and Gate market data, the Hang Seng Index opened 0.19% higher in Hong Kong, while the Technology Index rose 0.42%. The artificial intelligence sector opened higher, with Lenovo Group (00992.HK) up 4.4% and Kingboard Laminates (01888.HK) up 4%. MOMENTA-W (06880.HK) opened 1.83% higher on its first day of trading.
Goldman Sachs: Buy on dips in chip stocks, but avoid "buying a basket of chips" again.
According to Mars Finance, Goldman Sachs stated in its latest report on July 7th that semiconductor stocks still present investment opportunities after the recent pullback, but AI chip trading has entered a more selective phase, and investors should no longer simply buy the entire sector. The bank pointed out that the PHLX Semiconductor Index has risen by over 80% this year, significantly outperforming the S&P 500 and Nasdaq indices. This strong performance has raised the bar for subsequent earnings realization and made the risk-reward ratio more differentiated ahead of the Q2 earnings season. Goldman Sachs remains optimistic about certain sub-sectors, including CPUs, ASICs, memory, and semiconductor equipment. Goldman Sachs believes these areas will benefit more directly from the expansion of AI infrastructure and have relatively higher demand visibility. In terms of individual stocks, Goldman Sachs specifically mentioned AMD and Applied Materials. AMD benefits from server CPU and AI-related demand, while Applied Materials benefits from advanced process technology and memory capital expenditure. However, Goldman Sachs is more cautious about the mobile phone supply chain and some semiconductor companies with high valuations or weak demand.